Happy Monday!!!!!! I’m coming off of an absolutely fabulous weekend spent with family. Friday night I babysat the siblings and then went to a party with the boo. Saturday, my father and uncles finally invited the women to the Big East game so after eating a phenomenal feast at a Steakhouse in NYC, we all headed over to MSG to watch UCONN win a very close game. Then on Sunday, I met the boo's mom and she made a great dinner for us including homemade peach cobbler aka my favorite. Now it is back to work! On to money matters.
Last week I restarted my journey to become financially fit. The no buy month was successful, although it just made me realize that I am not a big spender. Unfortunately I think I made up for no buy month by going on an all buy week. L My long list of “to-buy” items should have given me an indication that this would be a problem. Anywhoo, everyday is a chance to do better, so I am dusting myself off and trying again.
This 12-week plan was created by Personal Finance Editor, Tanisha A. Sykes and is taken directly from Essence Magazine’s January issue with some infusion of other tools and tips I come across along the way.
For those of you who don’t have the issue and would like to join in here is both week 1 and week 2.
Week 1:
Determine Your Priorities: Sykes suggests that the first step to financial fitness is discovering your financial IQ. This will allow us to see which our values and priorities as it relates to money and will better allow us to form goals. Sykes suggests using the LifeValues quiz . I thought this quiz was ok. I also took VSCPA Financial Fitness Quiz.
Week 2:
Set Realistic Goals: Based on the results from the quiz(zes), set realistic financial goals that you would like to achieve. It may be to pay off a $6000 credit card bill, or save $3000. Whatever it may be, make sure to make clear, set goals that includes a timetable. In order to do this well, it is necessary to first figure out what you have and where it’s going. I recommend going to excel and using one of their budget templates. In the past I used this for my monthly budgets. Additionally you can check out http://www.mccea.net/files/Monthly_Expenses_Worksheet.pdf. Good luck!
Side note: Today was the first day of Couch to 5K. While the weather was a little too nippy to run outside, I was up and out at 6am and ran on the treadmill according to my Active Trainer workout. It is amazing how great you feel after accomplishing a goal. My Black Girls Run hoodie has not come in yet, but when it does I will be sure to take a picture.
<3 Jade
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